US: Weekly initial claims was 220,000, a decrease of 41,000 from previous week

"In the week ending January 13, the advance figure for seasonally adjusted initial claims was 220,000, a decrease of 41,000 from the previous week's unrevised level of 261,000," the US Department of Labor reported on Thursday.

Key highlights

This is the lowest level for initial claims since February 24, 1973 when it was 218,000.

The 4-week moving average was 244,500, a decrease of 6,250 from the previous week's unrevised average of 250,750. 

Claims taking procedures continue to be disrupted in the Virgin Islands. The claims taking process in Puerto Rico has still not returned to normal.

The advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending January 6, an increase of 0.1 percentage point from the previous week's unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending January 6 was 1,952,000, an increase of 76,000 from the previous week's revised level.